Integrys Energy Group Inc. (TEG) announced that an affiliate of its nonregulated subsidiary, Integrys Energy Services Inc., has closed a transaction to sell two of its power generation companies that own generation assets in northern Maine and New Brunswick, Canada to Algonquin Power & Utilities Corp.
Integrys Energy Services expects to close the sale of its associated sales and standard offer service contracts in northern Maine to Algonquin on February 1.
The financial terms of the transactions were not disclosed.
Charles Schrock, President and CEO, said, "The terms of the sale of these power generation assets are in line with our expectations for the nonregulated segment strategy".
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